The Analytical credit rating agency (ACRA) has assigned a rating of AAA (RU), outlook Stable, to Gazprom Neft - a credit rating assigned according to the national scale for Russia, the company reported on July 13, 2017.
A rating of AAA, outlook Stable, reflects the agency’s assessment of the company’s business profile: a high level of hydrocarbon reserves, as well as metrics on production volumes and refining depth, and a strong level of diversification across production assets and markets.
Among those factors impacting the assessment, the agency notes Gazprom Neft’s high standard of corporate governance, the strong support of the company’s main shareholder, Gazprom, the company’s low leverage, the high profitability of the business, and the level of financial transparency throughout the company which, according to ACRA, matches international best practice in terms of disclosure of both financial and operational data.
Alexei Yankevich, Deputy CEO for Economics and Finance, Gazprom Neft, commented: «Gazprom Neft is the 1st company in Russia’s oil and gas industry to receive such a high rating from ACRA. Such an authoritative assessment from a ratings agency is, without doubt, testament to the high credit worthiness of the company, and an endorsement of Gazprom Neft’s business efficiency.»
To read the article in Russian.
